There are also areas that can really be bad too, so you really need to have knowledge of the area and boots on the ground in any territory you look to invest in that you aren't local to. 

There is never one way to do real estate deals, and there are many ways to this food chain, but stay away from danger.

Purchasing property based on Anticipation is dangerous.

It's dangerous to look at a deal from only a percentage view alone and it is wise to also consider your straight flat rate dollar return.About flips, often outside investors come to Pueblo and rehab based on what the market/buyer they left (NY, CA, TX, Colo Spgs, Denver, etc) would want a rehab to look like and not what a Pueblo buyer will expect.

Very dangerous if that is the case.

Rain sleet snow 40 mph winds we're out there so it's pretty dangerous as well to say the least.

This is new territory for me. 

It gives that lender some say in your buissness and if it's friend or family it can stress relationships and make for trouble at thanksgiving dinner. 3) this one is the most dangerous.

@Patricia Sander Two things - 1) You need a new Realtor and Attorney, they are supposed to work for for and represent YOU. 2) You assume waaaay too much, that is a dangerous habit in this business....

What you have to remember is that if the contract itself has incorrect verbage that puts the seller in danger that would be the listing agents fault and one deal isn't worth losing their license.